Russia-China to join forces for uranium project

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Rosatom Russia’s nuclear corporation will collaborate with the Russia-China Investment Fund for Regional Development (RCIF) to create a joint uranium mining project in Zabaikalsky Region in Western Russia.

The Priargynsky Industrial Mining and Chemical Union will have the 51% of this new venture. On the other hand ARMZ Uranium Holding will have 49%. Total valuation is $325million.

China National Nuclear Corporation will finance most of the project with $282 million and the rest by RCIF.

The mine will work by 2023 and it has total reserves of 40.000 tons. With annual capacity of 850.000 tons uranium ore.

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